Minn.'s White Oaks looks to technology for help sharpening financial plans. Minneapolis-based wealth-management firm White Oaks Wealth Advisors has selected Albridge Solutions ' wealth-reporting and data-consolidation technology to provide asset reporting from over 700 client accounts.

"High-net-worth clients expect to have access to detailed reporting on their assets as a matter of course," says White Oaks v.p. Sharon Bloodworth. "Implementing Albridge Wealth Reporting will enable us to exceed our clients' expectations and deliver an unmatched level of service and financial advice."

The better to know you

Albridge collects, cleans and normalizes the transaction and position-level securities data it receives from settlement and clearing firms, data custodians, product companies as well as internal systems. Using Albridge's Wealth Reporting suite, White Oaks will be able to consolidate data from National Advisors Trust Company and Schwab and manage reports on over $200 million. White oaks advisors and clients will be able to use a Albridge's customizable interface to access portfolio information and produce a number of reports and consolidated account statements. The point is help White Oaks advisors design more effective financial plans for their clients.

Financial advisors demonstrating an in-depth knowledge of their clients are better equipped to build stronger, more loyal client relationships, according to research conducted by Phoenix Marketing International. In a survey of more than 1,100 affluent households, the Rhinebeck, N.Y.-based market-research firm found that the level of knowledge of the advisor and quality of the advice provided -- along with the honesty and dependability of the advisor -- were the top drivers of client loyalty.

Rob Gregov, a v.p. in Albridge's advisory solutions group, says the data processor is committed to supporting firms like White Oaks in their efforts to deliver wealth-management services "based on a more comprehensive understanding of their clients' assets" a process that "begins and ends with access to wealth-management [technologies] that provide one consolidated performance report that encompasses all of a client's assets and accounts."

White Oaks manages about $226 million across 225 accounts, mainly for private clients.

Lawrenceville, N.J.-based Albridge provides web-based portfolio-accounting and performance-reporting technology to about 100 financial firms with approximately 60,000 financial advisors and representing more than $850 billion in assets. -FWR

.